PK Press Club – Bitcoin’s surge past $100,000 has fueled speculation about renewed interest in the cryptocurrency, but Barclays (LON:) Analysts suggest the hiring landscape in the crypto sector remains subdued.
In their latest report, Barclays examined whether the recent price spike, attributed in part to anticipation of a crypto-friendly Trump administration, has led to an increase in crypto-related job postings.
Using LightCast data, analysts tracked job listings with keywords like “cryptocurrency,” “bitcoin,” “Ethereum,” “metaverse,” “web3,” and “blockchain.”
The results reveal that crypto-related job postings peaked in late 2021 and early 2022, with Web3-specific roles reaching their highest levels later in 2022.
Since then, the bank said hiring activity has steadily declined.
“While Bitcoin’s price has responded to the potentially friendly Trump administration, hiring has not,” the analysts wrote.
Among the keywords tracked, blockchain-related job postings remain the most prevalent, even in 2024.
However, when indexed to January 2022 levels, Barclays said the data shows that all categories of crypto-related roles are still significantly down.
The report highlights a disconnect between bitcoin market performance and broader hiring trends in the crypto space.
They explained that while the potential for regulatory changes under the Trump administration may generate optimism, it has not yet translated into a notable increase in labor demand in the sector.
The Barclays results suggest that despite Bitcoin’s recent rally, the crypto industry’s hiring rebound may be lagging other indicators of market enthusiasm.
